FSCA Warns Public Against Quantlio Investments LLC
The Financial Sector Conduct Authority (FSCA), South African financial markets regulator, has warned the public to act with caution when dealing with with Quantlio Investments LLC.
According to the information received by the FSCA, Quantlio Investments LLC is using the Financial Services Provider (FSP) registration number of Benevolent Financial Consultants (Pty) Ltd, FSP number 50186, in a deceitful manner to mislead and defraud members of the public.
The FSCA can confirm that Benevolent Financial Services (Pty) Ltd's licence has been lapsed since 21 September 2020, therefore the FSP number cannot be used by Quantlio Investments LLC or any financial services provider during their dealings. The FSCA is of the view that Quantlio Investments LLC is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.
The FSCA warns that members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide.
It again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA as to whether or not such institution or person is authorised to render financial services.
Subscribe Now
